Sector News

Centrica sells Trinidad and Tobago gas assets to Shell

December 2, 2016
News

British utility Centrica said on Wednesday it has agreed to sell its gas assets in Trindad and Tobago for $30 million to Royal Dutch Shell.

The assets include a 17.3 percent interest in the producing NCMA-1 block as well as operating interests in two undeveloped blocks, Centrica said.

The divestment is part of Centrica’s drive to focus its oil and gas exploration and production activity to Britain, the Netherlands and Norway.

Shell, which became the world’s top liquefied natural gas trader following its $54 billion acquisition of BG Group this year, has a stake in Atlantic LNG, one of the world’s largest plants, in Trinidad.

By Ron Bousso

Source: Reuters

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